Plastic Waste Management Market Research Report Information By Service (Collection, Recycling, Incineration, and Disposal), By Polymer (PP, LDPE, and HDPE), By Source (Commercial, Residential, and Industrial), By End-Use Sector (Packaging, Construction, and Textile), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030

Global Plastic Waste Management Market Overview:

Plastic Waste Management Market Size was valued at USD 30548.5 million in 2021. The plastic waste management market is projected to grow from USD 31923.18 Million in 2022 to USD 43443.04 million by 2030, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2022 - 2030). Rapid industrialization, growing urbanization, and growing concern over the effects of inappropriate plastic waste management on the environment are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Plastic Waste Management Market Trends

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  Growing plastic waste to boost the market growth

  
  

The production of plastic garbage has risen quickly, along with the expansion of infrastructure-related activities worldwide. This is expanding the potential for waste management. The number of commercial places, including hospitals, malls, theatres, educational facilities, restaurants, and others, is growing, which is increasing the amount of plastic garbage produced. This is also increasing public awareness of plastic recycling, waste plastic recovery, and waste material processing. For instance, to stop plastic pollution, particularly waste that finds its way into seas, more than 30 international firms launched a new worldwide "Alliance to End Plastic Waste" in London in January 2019. Over the next five years, this alliance has committed to investing US$1.5 million. To eradicate plastic pollution in the future, such initiatives are promoting the usage of plastic waste management services. Therefore, such generation of plastic waste is propelling the plastic waste management market CAGR across the globe in recent years.

Big data and machine learning (ML) technologies are creating new growth prospects in the management of plastic trash. These tools can facilitate effective resource planning while also saving time. Thus, the overall cost of operation would go down. Additionally, satellite cloud identification of ocean plastic waste identifies dense locations and pinpoints their precise position. Companies are saving time & money by using such devices to gather plastic waste.

To stop plastic pollution, a large number of top worldwide businesses operating along the whole plastic value chain have banded together. For instance, in an effort to stop plastic pollution, particularly waste that finds its way into seas, more than 30 international firms launched a new worldwide "Alliance to End Plastic Waste" in London in January 2019. Over the next five years, this alliance has committed to investing US$1.5 billion. To reach the objective of eradicating plastic pollution in the future, factor driving the growth of the plastic waste management market revenue

Figure 1: Following the disposal of recycling byproducts and collected litter, the proportion of plastics treated per waste management category, 2019

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Plastic Waste Management Market Segment Insights:

Plastic Waste Management Service Insights

The plastic waste management market segmentation, based on service, includes collection, recycling, incineration, and disposal. The collection plastic waste management segment held the majority share in 2021, contributing to around ~33% respect to the plastic waste management market revenue. This is primarily due to strict government regulations and an enormous expansion of the infrastructure for recycling plastic. Recycled plastic is used in many products, including bottles, carpets, rubbish bags, films, and containers. 9.4 million tonnes of plastic post-consumer garbage were collected in Europe in 2018, according to Plastics Europe. The plastic waste management market's collection sector is being driven by this. Due to this, there need to be more opportunities for plastic recycling, waste plastic recovery, and adequate plastic waste management infrastructure.

Plastic Waste Management Polymer Insights

The plastic waste management market segmentation is based on polymer PP, LDPE, and HDPE. The PP segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Numerous products, including plastic packaging, plastic components for machinery and equipment, fibers, and textiles, employ polypropylene The overall plastics output in 2019 was 368 million tonnes, up 2.5% from the 359 million tonnes produced in the year before, according to Plastics Europe Market Research Group (PEMRG). Hence, the rising use of PP is impacting plastic waste management and is propelling market growth.

Plastic Waste Management Source Insights

The plastic waste management market data has been bifurcated by source into commercial, residential, and industrial. The industrial segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Industrial waste is the trash and unsold goods produced by industrial processes or manufacturing. One of the main causes of the growth in industries and manufacturing facilities worldwide is the production of industrial trash, including plastic garbage. More than 300 million tonnes of plastic garbage are created annually, according to UN Environment Programme research.

Figure 2: Plastic Waste Management Market, by Source, 2021 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Plastic Waste Management End User Insights

Based on end users, the plastic waste management industry has been segmented into packaging, construction, and textile. Packaging held the largest segment share in 2021. An important factor driving the demand for the packaging segment in the plastic waste management market, according to data from the World Packaging Organization (WPO), an organization and regulatory body for the packaging industry, was the packaging industry's annual turnover crossing the value of US$500 billion in 2019.

Plastic Waste Management Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific’s plastic waste management market accounted for USD 13410.7915 million in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is due to the amount of waste produced in the area rising due to the rapid population expansion in nations like China and India. As a result, there is a growing need for integrated waste management. The economic and Social Commission for Asia and the Pacific (ESCAP), a United Nations agency, estimates that the Asia-Pacific area produces over half of all plastics used worldwide and uses 38% of it.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: PLASTIC WASTE MANAGEMENT MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe’s plastic waste management market accounts for the second-largest market share because most of the collected plastic debris in Europe is used to produce energy. It is anticipated that the implementation of the new "Circular Economy Action Plan" and "The European Green Deal" will significantly affect the expansion of this market in Europe. Further, the Germany Plastic waste management market held the largest market share, and the UK Plastic waste management market was the fastest-growing market in the European region.

The North America plastic waste management Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to raising awareness of the need to reduce the carbon footprint caused by rising plastic trash. Moreover, plastic waste management market held the largest market share, and the Canada plastic waste management market was the fastest growing market in the Asia-Pacific region

Plastic Waste Management Key Market Players & Competitive Insights

Major industry players are investing significant money in R&D to expand their product offerings, which will spur further growth in the plastic waste management market. In addition, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and working with other organizations, among other market developments an effort to expand their footprint. To grow and survive in a market that is becoming more and more competitive, competitors in the plastic waste management industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business methods manufacturers use in the international plastic waste management industry to benefit customers and increase the market sector.  Some of the most important advantages to the market in recent years have come from the plastic waste management industry. The plastic waste management major player, including Suez Environment Company, Republic Services, Inc., Biffa, Olia Environnement S.A., Waste Management, Inc., and others, are attempting to increase market demand by funding R&D initiatives.  In recent years, the plastic waste management industry has provided medicine with some of the most significant benefits.

The non-hazardous solid waste collection, trash transfer, garbage disposal, recycling, and energy services provided by Republic Services are among its many offerings. The environment, public health, safety, zoning, and land use are just a few of the federal, state, and municipal regulations that Republic Services, along with all other waste and recycling businesses. In March 2022, To meet the increased demand for recycled plastic from players in the package manufacturing industry, Republic Services, Inc. presented the development plans for the integrated plastics recycling facility in the USA.

Also, High Wycombe, England, serves as the corporate headquarters of the waste management firm Biffa plc. Local authorities, businesses, and industries in the UK can use its collection, dumping, recycling, and special waste services.  In June 2022, The Commonwealth Games Birmingham 2022, scheduled to take place in July 2022, has chosen Biffa as their official waste management and recycling provider.

Key Companies in the Plastic Waste Management Market Include

• Veolia Environnement S.A. (France)


• SUEZ Environnement Company (France)


• Waste Management Inc. (U.S.)


• Republic Services Inc. (U.S.)


• Stericycle Inc. (U.S.)


• ADS Waste Holdings Inc. (U.S.)


• Remondis SE & Co. KG (Germany)


• Clean Harbors Inc. (U.S.)


• Hawkvale Limited (UK)


• Hahn Plastics Limited (UK)


• Covanta Holding Corporation (U.S.)


• Progressive Waste Solutions Ltd. (Canada)


• Luxus Limited (U.K.)


• PLASgran Ltd. (U.K.)


• United Plastic Recycling Inc. (U.S.), among others

Plastic Waste Management Industry Developments

July 2021: To handle the reverse logistics of medical waste, UPS Healthcare and Stericycle formed a strategic alliance. Various medical waste types, including sharps, biohazardous, and pharmaceutical wastes, will be treated, transported, and disposed of, according to the agreement.

June 2020: Green Circle Polymers Ltd. (GCP), based in Grangemouth, was purchased by Biffa plc, the UK's top sustainable waste management company, for £10 million. This included purchasing Green Circle Polymers Ltd (GCP) of Grangemouth, Scotland's sole post-consumer plastics recycling facility (PRF).

Plastic Waste Management Market Segmentation:

Plastic Waste Management Service Outlook

• Collection


• Recycling


• Incineration


• Disposal

Plastic Waste Management Polymer Outlook

• PP


• LDPE


• HDPE

Plastic Waste Management Source Outlook

• Commercial


• Residential


• Industrial

Plastic Waste Management End-Use Sector Outlook

• Packaging


• Construction


• Textile

Plastic Waste Management Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America